HomeMy WebLinkAboutCity Council Resolution 1988-432CITY OF PLYMOUTH
Pursuant to due call and notice thereof, a s ecia: meeting of the
City Council of the City of Plymouth, Minnesota, was Reld on t e 25th
day of %1 , 19 88 . The following members were
present: yor 5chnelder. ounc mbe
mers Rick r. Zitur and Sisk
The following members were absent: CouncilmeiGer Vasiliou
Councilmember Zitur introduced the following Resolution and moved
Its adoption:
RESOLUTION NO. 88-432
APPROVING LAWFUL GAMBLIKG EXEMPTION
FOR OAKWOOD P.T.O.
WHEREAS, the City has received notice of an application from the Oakwood
P.T.O. to the Minnesota Charitable Gambling Control Board for a lawful gambling
exemption to operate a raffle on September 12-16, 1988; and
WHEREAS, the Council has reviewed the request;
MON, THEREFORE, BE IT HEREBY RESOLVED BY THE CITY COUNCIL OF THE CITY OF
PLYMOUTH, MINNESOTA, that it should and hereby does approve the request for
a lawful gambling exemption for the Oakwood P.T.O.
The motion for the adoption of the foregoing Resolution was duly seconded by
Councilmember Sisk , and upon vote being taken thereon, tNe
following voted In favor thereof: Wayor Schneider Councilmembers Ricker
Zitur and Sisk Th following
voted against or abstained: e
Whereupon the Resolutioq was declareO duly parsed and a opte .
Extract of Minutes of Meeting
of the City Council of the City of
Plymouth, Hennepin County, Minnesota
Pursuant to due call and notice thereof, a regular meeting of the City
Council of the City of Plymouth. Minnesota, was duly held in the City Ha u
In said City on Monday. August 1, 1988, commencing at 7:30 o'clock P.M.
The following members were present: Mayor Virgil Schneider, Lloyd
Ricker, Maria Vasiliou, Robert Zitur, Jerry Sisk
and the following were absent: None.
e•rr a*e **e
The Mayor announced that the next order of business was consideration
of the bids which had been received for the purchase of the City's
$1.025.000 General Obligation Tax Increment Bonds, Series 1988A. as adver-
tised for sale. The City Clerk presented affidavits showing publication of
the notice of sale in the City's official newspaper and in Commercial West,
a financial paper published in Minneapolis. Minnesota, which affidavits
were examined and found satisfactory and ordered placed on file.
The City Clerk presented a tabulation of the bids which had been
received in the scanner specified in the Official Notice of Sale of the
Bonds. The bids were as follows:
See Bid Tabulation Attached.
SEPT
i
BID TABULATION
$1,025,000 General Obligation Tax Increment Bonds, Series 1988A
City of Plymouth, Minnesota
ALE: Monday. August 1. 1988
AWARD: CRONIN A COMPANY. INC.
RATING: Moody's'Ae
BBI: 7.76%
COUPON
NET INTEREST COST
NAME OF BIDDER
RATE
YEAR
& RATE PRICE
CRONIN & COMPANY. INC.
5.90%
1991
$340,928.96 $1.015.313.75
Minneapolis. Minnesota
6.10%
1992
MERRILL LYNCH CAPITAL MARKETS
6.20%
1993
6.5003%
' Chicago, Illinols
6.30%
1994
>1N1LLER SECURITIES. INC.
6.40%
-75
.Minneapolis, Minnesota
6.50%
1996
IN BOSWORTH. INC.
nneapolls. Minnesota
(NORTHERN TRUST COMPANY
Chicago. Illinois
'SMITH BARNEY. HARRIS UPHAM
& COMPANY, INC.
Minneapolis. Minnesota
HARRIS TRUST & SAVINGS BANK
Chlcago, Illinois
BEAR. STEARNS & COMPANY. INC.
Chicago, Illinois
United Missouri Bank of Kansas City
The Exchange National Bank of Chicago
Bank One Milwaukee, N.A.
Hutchinson. Shockey. Erley A Company, Inc.
5.80% 1991
6.00% 1992
6.20% 1993
6.375% 1994
6.50% 199S
6.60% 1996
=343.840.99
6.5558%
$1,014,852.50
607 Mapueft Avenue
Mtn wpWi., MN 66102
012) 339.8291